Vycon Inc

Re Contract

RNS Number : 9575F
Vycon Inc
16 October 2008
 






Vycon, Inc.


International Container Terminal Services, Inc. Orders Twelve

VYCON REGEN® Crane Energy Storage Systems 


Vycon Inc. ('Vycon' or the 'Company'), the designer and manufacturer of high-speed flywheel based, environmentally friendly energy storage systems, today announced that International Container Terminal Services, Inc. (ICTSI) has ordered twelve new Rubber Tired Gantry (RTG) cranes from Noell China with VYCON's fuel and emission saving REGEN energy storage systems for their operations in Manila. ICTSI is one of the top five major maritime terminal operators in the world.  The order is expect to generate revenue in excess of US$1 million, which will be recognized during 2008 and 2009.


VYCON's REGEN systems will operate at the Manila International Container Terminal (MICT) - the largest international container terminal in the Philippines. As part of their long tradition of being one of the most efficient ports, VYCON's REGEN energy storage systems will help the MICT realize substantial savings in diesel fuel consumption and costs in operating their RTG cranes. The REGEN system optimizes the crane's diesel generator operation by storing energy during the cranes lowering cycles and then quickly releasing regenerated energy for the crane's lift cycles. 

    

A key aspect to VYCON's progress in the RTG market has been the collaboration and integration efforts accomplished together with Noell Cranes in China. Noell can now provide the REGEN system as a fully integrated component on new RTG cranes. 'We are very impressed with VYCON's REGEN technology. The advantage of reducing fuel consumption and emissions with a technology that has a long life and minimal maintenance is a positive feature to help promote our RTG cranes,' said Marco Castagnini, President for Noell Crane (China) Systems Ltd.


Vatche Artinian, President and CEO of Vycon, added: 'Today's announcement demonstrates that our investment in infrastructure, product development and the right people, is enabling us to really gain traction in our target markets. We are delighted to be working alongside Noell in supplying their RTG cranes to one of the world's leading maritime terminal operators.'




Enquiries:


Vycon Inc.                       Vatche Artinian                      001 714 308 0388

                                        Craig Glynn                           001 714 386 3800


Smith & Williamson         Nick Reeve                           + 44 (0) 117 376 2000

Corporate Finance Ltd.    Martyn Fraser


Cardew Group                 Rupert Pittman                     + 44 (0) 20 7930 0777

                                        Shan Shan Willenbrock

                


 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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